“Ryan chose Lorraine Schwartz to help him find a flawless, light pink oval diamond,” a spokesperson for the jeweler says. “They worked together to design a custom setting in rose gold and pave diamonds with a nod to deco.”

Younger consumers think differently. Dr. Kit Yarrow has cracked their code. The “echo boomers,” also known as Generation Y—defined as people born between 1978 and 2000—is now the largest generation in U.S. history.

To catch a glimpse of modern-day alchemy, jewelers who attended the JCK Las Vegas trade fair in June ventured past glittering displays of diamonds and gold to an equipment pavilion at the back of the Mandalay Bay Convention Center.

And you thought the 12.08 carat Ponzi diamond ring was a big deal. Authorities are searching for a round 8.91 carat diamond that Ponzi schemer Scott Rothstein bought in 2008 that is worth about $800,000.